CryptoQuant Analyst: Bitcoin May Continue to Correct Amid Weak ETF Flows and Spot Demand

TechFlow: On November 11, according to an analysis published by CryptoQuant-certified analyst Axel Adler Jr., US Bitcoin ETFs recorded cumulative outflows of $969 million over the past five trading days, with the five-day fund flow metric declining by $766 million over the past week; only 15% of days in the past year were at this level or lower.

The Coinbase premium stands at -0.14%, remaining negative for 70 consecutive days. Adler believes that combined fund outflows and weak US spot demand support the assessment that Bitcoin will continue its correction. His view will change if both metrics turn positive.